DEVELOPING POOR QUALITY OIL RESERVES FOR ENHANCING CHINA'S OIL SECURITY

Since 1990's,with the rapid economic growth,China's oil consumption grows so sharply that it outpaces oil production.The domestic crude oil production cannot meet the increasing demand of economic development.China has had to import a great amount of oil since 1993,and amount of import oil is increasing rapidly.Facing more serious oil supply in China,China has to enhance oil exploration to find new and big oil fields;on the other hand,it should strengthen recovery and production of“poor quality oil reserves”(PQOR) which is hard to commercially developed in some conditions.Experiences show that developing this oil not only can increase oil production,improve oil exploration efficiency,but also reinforce to some degree oil security of China.Based on analysis of basic characteristics of PQOR,the paper defines its basic meanings.Then,the paper classifies PQOP into four kinds,and describes each kind's distribution in China.The paper also introduces some successful experiences in developing PQOR,probes the effective ways of exploiting PQOR in China.At last,the paper provides some suggestions and measures of how to advance development of the poor quality oil reserves.